Global plant protein market value 2022-2027

The market value for plant protein is forecast to be 17.4 billion U.S. dollars in 2027. Compared to the 12.2 billion the market was estimated to be worth in 2022. This would constitute an increase of over seven billion U.S. dollars.

Plant Protein

Examples of plant-based products that are particularly protein-rich are nuts, soya, tofu, tempeh, seitan, peas, beans, and chickpeas. From 2013 to 2018, there was an increase in the production of plant protein products in Europe and Russia of approximately 500,000 thousand metric tons.

Reasons for choosing plant-based products

Plant-based products are becoming increasingly popular for a variety of reasons. According to a survey in India, more than half of the respondents stated that they choose plant-based food products over animal-based products because they follow a vegetarian or vegan diet. In contrast, only roughly two percent of respondents in Japan stated the same. Japanese are mainly concerned with health reasons. Among people who prefer plant-based protein over animal protein in the United States, approximately half of the survey respondents stated that they do so because of the taste.